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LONDON (Reuters) – UK supermarket group Sainsbury plans to cut another 500 jobs and reduce its office space as it simplifies administrative functions for the post-pandemic period.
The downsizing is at risk, on top of 3,500, after new CEO Simon Roberts embarked on a major restructuring in November that closed Argos stores and meat, fish and deli counters.
With the final step, the group will vacate two floors of their headquarters in Holborn, in central London, two floors of their office in Milton Keynes, outside the capital, and one floor of their office in Manchester, Northern England. Other smaller offices will also be closed.
"The money we save allows us to invest in what customers really care about – lower prices, exciting new products and the most convenient shopping opportunities," said Roberts, who succeeded Mike Coupe in June.
Sainsbury & # 39; s, the UK's second largest supermarket group after Tesco (OTC :), is also planning to close its online fulfillment center (OFC) or so-called "dark store" in Bromley-by-Bow in east London serve.
It hoped to move most of the center's 650 workers to other stores.
Sainsbury's most recent downsizing comes a week after rival Asda said 5,000 jobs were at risk from restructuring.
The group's shares, which rose 12% last year, closed Wednesday at 221.3 pence and valued the deal at just under £ 5 billion ($ 7 billion).
($ 1 = 0.7161 pounds)
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